This is the 33rd edition of Rail Trends. For over 30 years, the Railway Association of Canada (RAC) has issued its annual report on Canada’s rail industry. This publication contains a rolling 10-year review of financial and statistical results, reflecting multiple aspects of railway performance in Canada. This edition covers the 2015 to 2024 period.
For More Information, Please Contact:
Jonathan Thibault
JThibault@railcan.ca
Resilience in Motion
2024 was marked by both significant challenges and notable achievements for Canada’s rail sector. Despite a complex operating environment—including recurring labour disruptions and supply chain uncertainty—Canada’s railways delivered record setting performance in multiple areas. The industry’s results reflect its long-standing role as a reliable, resilient, and essential contributor to Canada’s economy.
Freight volumes increased to 348 million metric tonnes—a record. This was made possible by the exceptional network recovery following each labour or weather-related disruption that occurred during 2024 and the maintenance of low average terminal dwell times throughout the year. This achievement underscores the reliability of the rail system.
Moreover, the rail sector’s globally competitive freight rates remained stable (decreasing by 0.3%), supporting cost-effective supply chains, which are critical for growing and diversifying Canada’s exports. While these rates remained flat, railways invested more into their networks and contributed more in taxes to Canadian governments than ever before.
Railways invested a record $4.5 billion into their Canadian assets, a 9.5% year over-year increase, bringing the total over the past decade to $35.5 billion. These investments support several sectors across the economy, as rail moves 70% of Canada’s intercity freight traffic and 50% of the country’s exports. $2.4 billion was invested in track and roadway infrastructure, nearly $900 million was invested in the newest high-capacity hopper cars and locomotives that meet the highest emissions standards, and $1.2 billion into other equipment and technologies to further strengthen the network.
At $2.7 billion, taxes paid hit a record high, underscoring rail’s significant and growing contribution to federal, provincial, and municipal revenues.
In 2024, the rail sector directly employed 38,000 people across the country—the highest level since 2001. These jobs, of which the majority are unionized, provide average compensation of $110,000, which is approximately 50% higher than the average full-time Canadian salary. Safety and environmental performance also reached new industry records.
Canada’s railways delivered the strongest freight safety performance on record—reducing the accident rate by 4.8% to 1.61 accidents per billion gross ton-miles. Railways also performed well in the safe transportation of dangerous goods and the passenger rail accident rate improved by 12.4%.
A record was also set in freight fuel efficiency, with railways able to move one tonne of goods 229 kilometres on a single litre of fuel—cementing their status as the most fuel-efficient means of transporting goods over land. This performance was made possible through investments in locomotive fleet modernization, fuel saving technologies, and continuous improvements in operational efficiency.
Freight and passenger railways will continue to play a key role in the decarbonization of Canada’s transportation sector and the economy overall. In 2024, the industry began tracking biofuel consumption more comprehensively—an important step as railways accelerate their adoption of renewable fuels to drive emissions reductions. In 2024, RAC member railways consumed an estimated 176 million litres of biofuels in Canada, accounting for 8.3% of total industry fuel consumption.
Passenger rail ridership continued its recovery as train frequencies increased to service an increase in demand for rail travel. Year-over-year, commuter rail ridership increased by 22.7% and intercity rail ridership increased by 8.6%. Collectively, these results demonstrate that—even in a year of significant labour disruptions—Canada’s railways delivered record tonnage, record investment, taxes, fuel efficiency, and safety performance.
The rail industry’s performance in 2024 affirms its role as a steadfast, reliable pillar of Canada’s economy, supporting jobs, enabling trade, and ensuring the safe, efficient movement of goods and people across the country
